Malaysian Internet users to become victims of Evidence Act; Rampant hacking puts online accounts at risk!

Hackers may cause Internet users to become victims of Evidence Act

Rampant hacking is putting numerous account holders at risk of being prosecuted for offensive material on their website which they did not publish with the newly-introduced Evidence Act putting the onus of proof on them.

According to Cybersecurity Malaysia, an average of eight personal accounts, blogs and websites are being hacked in Malaysia daily.

“It doesn't take an expert to hack into personal accounts such as Facebook, Twitter and e-mail,” said Cybersecurity Malaysia chief executive officer Lt-Col (Rtd) Prof Datuk Husin Jazri.

“Any computer literate person can learn how to do it.”

He added that Internet users who did not secure their personal accounts were the easiest targets.

By P. ARUNA and TASHNY SUKUMA, The Star/Asian News Network

Hackers have their ways to tap into accounts

A graphic designer was not aware that pornographic pictures appeared on his Facebook page until a friend alerted him.

The 25-year-old man, who wanted to be known only as Shan, said he had been asleep at home when he received the call from his friend.

“I found that I could no longer log in to my account as the password had been changed.

“Someone was using my account to post the content under my name,” he said, adding that he then contacted his friends and asked them to delete the compromised account from their list.

Cybersecurity Malaysia CEO Lt-Col (Rtd) Prof Datuk Husin Jazri said there were special devices in the market that enabled anyone to “sniff” WiFi networks.

Lawyers: Act will result in more cautious Net users

The newly-amended Evidence Act will potentially result in a wave of more cautious Internet users, say lawyers, as the onus is now on the person to prove they did not post or create offending material.

If one is hauled up, however, maintaining innocence might prove to be tricky unless Internet users are more thorough with safety measures, they said.

“Witnesses or documents would suffice, depending on circumstances.

“However, if you're a website owner and someone posts such comments, there's no way out,” said Bar IT Committee co-chairman Foong Cheng Leong.

> For more story in The Star today.

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Warning to Malaysian Internet Users: an Amendment to Evidence Act 2012 May 27, 2012

UK Banking Rules Risk Bank's Future Market Value

Royal Bank of Scotland Group Plc may lose as much as 20 billion pounds ($32 billion) from its future market value because of planned U.K. regulatory changes, Chief Executive Officer Stephen Hester said. 

The “regulatory environment has changed even more dramatically than we bargained for,” Hester said in the text of a speech at the Manchester Business School yesterday. “U.K. regulatory reforms on their own have probably cost 10 to 20 billion pounds from our future market value.”

The government-sponsored Independent Commission on Bankingrecommended in September the U.K.’s biggest banks should boost capital, implement plans for an orderly bankruptcy and erect fire breaks around their consumer units to boost the stability of the financial system.

The proposals also mean that banks will no longer be allowed to use their consumer units to provide cheap funding for investment-banking units.

Greater regulation is adding to a slower-than-expected economic recovery and turbulent markets, said Hester, 51. The British economy shrank in the first quarter as Britain slid into its first double-dip recession since the 1970s, figures from the Office for National Statistics showed.

“We can cope with these extra challenges, but they use up the outperformance we have achieved and they mean that our shareholders, indeed all bank shareholders, will see value recover less well than hoped,” he said.

Two More Years

The government was forced to rescue RBS at the height of the financial crisis, injecting 45.5 billion pounds of taxpayer money into the lender, making it the costliest bailout of any bank in the world.

Hester said in the speech that the cost of cleaning up the lender he inherited from former CEO Fred Goodwintotals 43 billion pounds so far.

RBS still has two more years of “heavy lifting, significant clean-up costs and vulnerability to outside events” as it restructures its business, Hester said.

RBS fell 0.3 percent to 23.2 pence at the close of London trading yesterday. The shares have rallied 15 percent this year, boosting the Edinburgh-based lender’s market value to about 26 billion pounds. The U.K., which owns 82 percent of the lender, paid an average of 50.2 pence a share for its holding.

To contact the reporter on this story: Gavin Finch in London at gfinch@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net